Christine Lagarde Managing Director, International Monetary Fund during her recent David Dimbleby Lecture (04/02/2014) to her credit touched upon most of the major problems facing the World.
She rightly pointed out that with 60% of us living in big Cities by 2030 the middle class will make up 30% of us. Hyper connected. Sending 3 million emails every second. Virtual Mobs. Growing further apart. She is right to say we are looking at Demographic time bomb. She is correct to point out that the World is becoming more fragmented in terms of power, influence and decision making.
That we are creating a Labyrinth of Inequality replacing Poverty.
She touched on climate change advocating that it is non negotiable. Very true but she then goes onto to suggest a pay for damage caused policy as a solution.
Carbon Credits like Fish Quotas done work turning into tradable items.
She highlighted one of the main threats coming from Environmental change – Heightened water stress, with 40% of the land in Africa by 2030 becoming useless.
She called for the need for more interconnections, multilateralism, Interconnected Voices, Inter Nation Bank lending, Social contracts, Inclusion, a Financial system for the 20th century. She even mentioned that you could put the world’s top 21 riches into a one decker bus.
SHE OBVIOUSLY BELIEVES THAT THE SOLUTION TO WORLD POVERTY IS BY WAY OF ECONOMIC GROWTH. POINTING OUT THAT IF MORE WOMAN IN THE WORLD WERE TO ENTER THE WORKPLACE THE WORLD ECONOMY WOULD GROW BY 30%.
THERE IS LOTS TO ADMIRE ABOUT MADAME LAGARDE SPEECH BUT IT MUST BE REMEMBERED SHE SPEAKS AS THE MD OF IMF.
SHE DID NOT MENTION THE ONGOING PRIVATISATION OF THE WORLD BY SOVEREIGN WEALTH FUNDS.
THE INEQUALITY/ POVERTY DELIVERS OF THE FUTURE.
SHE DID NOT MENTION THAT THE HYPER TECHNICAL AGE AS SHE LABELED THE NEW AGE WE LIVE IN.
WILL REMOVE MILLIONS OF JOBS THROUGH AUTOMATION.
We have Capitalism, a political system – countries trade – industries owned by private owners for profit.
We have Socialism, a political system – economy more owned by the people.
We have Communism, a political system economy owned by the state, or collective Organisations.
We have the Third Way, ideology that seek to combine egalitarian and individualist policies. A Tony Blair – a mix of Socialism and Communism.
Than you have my way. CAPITALISM WITH – EVERY TRANSACTIONS ON ALL WORLD STOCK EXCHANGES SUBJECT TO A WORLD AID COMMISSION.
To quote Bill Gates, ” Nothing can stop an idea whose time has come”
The way to stop Inequality and banish poverty is to get the heart of Capitalism GREED to beat money.